How to Buy Your First Storage Facility with Dan and Ben Schiermeyer

from Self Storage Income · host AJ Osborne

Welcome back everybody to the Self Storage Income Podcast! I’m your host, AJ Osborne! For anyone just starting out - those that are looking for that first storage facility to close on… I have two amazing guests lined up for you today - Dan and Ben Schiermeyer. Dan and Ben are self-storage brothers from the same mother… (I know, my jokes are great lol), and they just closed on their first-ever storage facility and they’re here to share the experience with us. Dan and Ben tested the commercial investing waters by investing in a car wash. They enjoyed that, but when their broker who sold them the car wash brought along a self-storage facility deal… they knew they had to jump at the opportunity. They share on today’s episode the whole process from start to finish - finding the facility, valuing the facility, the financing, the purchase, the management, and of course... the VALUE ADD. Like most deals, this wasn’t cut and dry, there were hurdles that they had to overcome, problems that needed to be solved, and like I’m always talking about, they didn’t figure this all out on their own. They used all their resources and made the deal happen, which has turned out to be a huge success for them. Huge congratulations to these guys and I couldn’t be more excited to share their story with you guys, our listeners. Thanks everybody, AJ   The Self Storage Income Exclusive Fall Event in Coeur d’Alene Idaho (GET YOUR SEATS RESERVED ASAP!) - https://selfstorageincome.com/events/ Be sure to go to Selfstorageincome.com to get your copy of my Self Storage Playbook. This step-by-step playbook walks you through from start to finish - how to identify a self-storage market, how to perform due diligence, how to contact a current owner, and ultimately how to land a deal and purchase a storage facility. You can also find the Self Storage Income Podcast on: iTunes Spotify Stitcher The Self Storage Income Podcast is Sponsored by: Janus International - https://www.janusintl.com/ Store Local - https://www.selfstorage.coop/aws/SL/pt/sp/home_page Live Oak Bank - liveoakbank.com/incomepodcast

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How long is this episode of Self Storage Income?

This episode is 37 minutes long.

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This episode was published on July 6, 2021.

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